Forum

COLA 2.8% Raise for all Social Security Reciepients

Social Security Benefits to Increase in 2019

https://blog.socialsecurity.gov/social-security-benefits-to-increase-in-2019/?utm_campaign=&utm_content=&utm_medium=email&utm_source=govdelivery


Posted on October 11, 2018 by Jim Borland, Acting Deputy Commissioner for Communications

Usually there is an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month, starting the following January. By law, federal benefits increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

The CPI-W rises when prices increase for the things the average consumer buys. This means that when prices for goods and services we purchase become more expensive, on average, the COLA increases monthly benefit levels and helps you keep up with the changing cost of living.

As a result, more than 67 million Americans will see a 2.8 percent increase in their Social Security and SSI benefits in 2019.

January 2019 marks other changes that will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax, as well as the retirement earnings test exempt amount, will change in 2019.

Want to know your new benefit amount as soon as possible? In December 2018, we will post Social Security COLA notices online for retirement, survivors, and disability beneficiaries who have a my Social Security account. You will be able to view and save these COLA notices securely via the Message Center inside my Social Security.

Be the first to know! Sign up for or log in to your personal my Social Security account today and choose email or text under “Message Center Preferences” to receive courtesy notifications so you won’t miss your electronic COLA notice!

This year, you will still receive your COLA notice by mail. In the future, you will be able to choose whether you receive your notice online instead of on paper. Online notices will not be available to representative payees, individuals with foreign mailing addresses, or those who pay higher Medicare premiums due to their income. We plan to expand the availability of COLA notices to additional online customers in the future.

You need to be a member of Boquete Ning to add comments!

Join Boquete Ning

Email me when people reply –

Replies

  • The sad truth is you are correct, I cannot possibly live to 112. Even if I could live that long inflation being equal to what it has been during the last 50 years would not even get me half way to even. Hey the bright side is with my 2018 monthly SS I can rent a nice place at VEscondido play 9 holes and have enough for rice and beans for dinner! Ahh the golden years and the good life...   :<)

  • The fact that this is the largest increase in 7 years is an indication of moves in the right direction for those of us looking for a return of the funds we paid into social security. I started paying into this fund when I was a 10 yr old from a paper route. I worked hard paying social security maximums for a majority of the following 50 years. I now enjoy and expect the return of my money.

    • I paid SS taxes as a 12 year old paperboy. None of those contributions went towards my benefits. Kinda harsh to tax kids that need every cent of their meager earnings. At least SS could wait until the wage earners were 18!

      NB: I ran the numbers, and if you paid the SS maximums, you would have to live to be 112 to get your money back (assuming your employer paid the other half).

  • The nation’s 67.6 million Social Security beneficiaries will receive a 2.8 percent cost of living increase next year, the Social Security Administration announced Thursday. That translates to an monthly boost of $39 to a total of $1,461 for the average beneficiary.

    But as economics correspondent Paul Solman has reported, that increase could largely be offset by an increase in health care costs.

    https://www.pbs.org/newshour/economy/making-sense/the-social-securi...

    https://www.ssa.gov/news/press/factsheets/colafacts2019.pdf
  • WOW!!! This is great news, 2.8% RAISE, this is 2.8% greater than the last administration gave me.

    Thanks for posting Vista2

    • The cost of Medicare Part B will probably go up.  One year I got less SS because of that.

      • Medicare will be $135.50 in 2019.  That's a rise of $1.50 per month.

This reply was deleted.

Recent Activity

Susan Frank posted a discussion
UPDATE:  Good news, Customs is back to their normal schedule today at the airport, we'll get your m…
6 hours ago
Oscar on the Streets replied to Lindsey's discussion Volcan Baru 4x4 tour
"Hello Lindsey,
 
I can organize this trip for you, I work the very reliable bilingual drivers. When…"
yesterday
More…